Appraisal Reviews by Saxton Appraisals, Inc.
According to a statement by the Federal Reserve, "financial institutions are required to have effective, impartial real estate appraisal and evaluation procedures," and that appraisers doing reviews are obligated to "have the knowledge and skills to evaluate compliance with the Federal Reserves appraisal regulations and guidelines." Saxton Appraisals, Inc. provides appraisal review services that are impartial, efficient, professional and in accordance with the Federal Reserve's rules.
If you have questions regarding an appraisal, or if you're in the need of a real estate appraisal review, contact us today.
According to the Federal Reserve, appraisal reviews "should decide whether the appraisal or evaluation is fitting for the transaction, the uncertainty of the transaction, and whether the process by which the collateral valuation is obtained guarantees independence and quality." They "should also announce whether the appraisal or evaluation report is compatible with the letter of engagement, which sets forth the range of the appraisal assignment." The Federal Reserve also says that "some banks augment regular reviews with post-funding surveys of appraisal quality for some of their high-liability or higher-value affairs as a means to help in detecting valuation concerns."
In addition to tailoring our work to the forms and guidelines of our review customers, there are four Fannie Mae forms that are usually used for review services, and we will develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. At Saxton Appraisals, Inc., we're qualified in all types of appraisal reviews, review processes and the responsibilities of review appraisers.
Saxton Appraisals, Inc. knows what the most common inadequacies are, particularly in our housing market, as well as what constitutes a quality appraisal. In the same sense, we are amply experienced to acknowledge that our competitors in our market are qualified to do a good job. The Uniform Standards of Professional Appraisal Practice (USPAP) govern appraisal reviews as well as appraisal reports, and you can rely on Saxton Appraisals, Inc. to fairly evaluate appraisal reports completed by others. And those others could be reviewing our work, too!
When you choose Saxton Appraisals, Inc., you can count on our truthful judgment, because we offer professional, fair, ethical appraisal review services for our customers. Contact Saxton Appraisals, Inc. regarding our qualifications, expertise and service offerings.